Check out my YouTube channel at www.youtube.com/tampa2enjoy.
Here's the latest and most accurate Tampa housing market report for November.
I am very surprised how strong the Tampa market is for November. Usually it really slows down from October to November, but this year it got better. WOW!
Don't forget to visit our Tampa Bay real estate website at www.tampa2enjoy.com and call or text me if I have help you.
Hey everyone – Here's the Tampa real estate market stats for September. It's great news for home owners because it's a sellers market. If you are a buyer you better hurry because home prices are continuing to go up.
Please visit our website and give me a call if you have any questions.
Check out the above video to view the Tampa real estate market statistics for May 2014. I do these real estate market statistics in Tampa to help educate home buyers and sellers. The data is taken directly from the MLS (MFRMLS). Please give me a call in you have any questions.
Hello everybody this is Lance Mohr I hope you are having a good day. I wanted to just go over the real estate statistics. I know for quite a few of you who follow us every month who want to see where the market is, where the market has been, and where the market is going I think that is great and I know it can get a little boring at times because you are not going to see some huge change from month to month but if you follow this over time and as just an example going back a year right here, look at last year where we were on inventory 3384 to last month in May over 5000 homes in the market and the same thing if we go to February to see where we were and of course 2013 was a little….I don’t want to say better it was a little different of a year because a lot more hedge funds were in the market sliding things a little bit but you can see where we’ve gone. You could see the monthly statistics; the home active listings went up slightly. You have the pending sales pretty much stayed the same. I think when you look right here short sales are continuing to drop as far as I think a lot of people are staying away from them. They are still about 9% or 10% of the entire inventory out there but here’s where the change is really occurring from last month to this month is short sales as you can see last month were 6% of all homes that closed and in April and May then went to 8%. Look at what bank owned did, they went from 23% to 19%. I’m not really sure why the short sales why this is happening right here. It could have just been a backlog and they were clearing out a little bit. I think with the bank owned you are starting to see, you’ve been seeing over time if you have been in the market or if you are a real estate agent in the market you have been seeing, the banks have just been over pricing their homes. I’m seeing a lot of that. Unfortunately banks and a lot of their agents, not that the agents really have any control over it because they are really…a bank agent is like a property manager, they are basically put there not to market, they are not put there for any form of customer service at all because it is some of the worst and they are some of the most unethical realtors…I hate to say that but it is true. They are pretty much like glorified property managers. They are there to appease the bank and do paper work for the bank; that’s basically what it is. What is happening is they really don’t have a lot into it and the banks’ ultimate decision to get educated but I’m seeing a lot of this where the bank might take a property and price it $185,000 or you will see some really ridiculous prices like $187, 650. Stuff like that and it will be over priced and in 30 days they will lower it and in another 30 days they will get it to where it should be but in the banking world on an REO property 30 days and 60 days in the market is quite a while and the home is already getting shop worn and people are starting to stay away from it. No different than if people are selling home the same thing tends to happen. Then the bank will eventually get a lower price than they probably would have if they had priced it right but they are really not following the market trends. This was a good thing last year and it was great because the banks did not quite have it figured out until probably the end of the summer how good the market really was but unfortunately right now banks think the market is better than it is. They think we are still in a 2013 market and we are not and so a lot of overpricing that way. You are seeing bank drops right here. I think this is the reason why. If you look this is comparison over time which is great to see what is going on. You can sort of even if I wanted to go back even further you can see right here going all the way back to 2013 and trailing into 2012 and 2011 it goes back quite a way. Anyhow you have this as statistics right here. You have May with a little further breakdown it is a good idea to have an idea where you are if you are looking at buying a home or if you are looking at selling a home. Where does your home lie? Is it 100 to 200? Is it 200 to 300? Where is it and what is the inventory like? Overall the inventory still under 4 months which is really good. You have to figure the average sales price of $180,000. You have right here you have inventory under 3 months for $100,000 to $200,000; even at $200,000 to $300,000 still very low inventory 300 to 500 very low inventory. I know this does not seem like low inventory right here but look at the price ranges. Check this out. If you have any questions on anything; real estate questions or any questions on the real estate market in general don’t hesitate to reach out and give me a call. I also have on my website tampatoenjoy.com a lot of great educational videos. I really wish people would start watching more of those because I get a lot of…yesterday I had someone contact me and she was very confused about how CDD fees work and home owner’s associations and a lot of people are still very unfamiliar with really how foreclosure/short sales work and how bank-owned properties work. I have all that information on my website tampatoenjoy.com. I also do this right here every week as you can see the home buyer webinars for buyers at TBbuyerwebinar.com and TBsellerwebinar.com. You are going to save tons of time just watching this because most people who are searching for a home if you like it great continue to do it but most people are not doing it right and they are just going to all these sites that are just more frustrating than good. I know visually Zillow and Trulia look good but you know it really, really hurts people I think in the long run because they are just a train wreck of a site, just completely outdated information. I know everybody is trying to find something that the next person doesn’t know about, but once you know the person or have an in on an investor that is just going to give you free money – because that is what an investor would be doing if they gave you a tip, giving you free money, I don’t think that is going to happen. Certainly not on websites like Trulia, Zillow or the MLS. Basically you have to be the first to the party so to speak. If you have any questions don’t hesitate to give me a call. Visit my website tampatoenjoy.com. Go to my Facebook page. Go to my Google Plus page. Like me. I appreciate it and I hope you have a great week. Have a great day as well. Goodbye.
Hi, this is Lance Mohr with Future Home Realty and I wanted to go over the real estate market statistics for April 2014. And most people have watched these before, but just so you understand these statistics are for single-family homes in Hillsborough County.
Now if you own a home in the Central Pasco County there is like Wesley Chapel, Land O Lakes then I would go off these statistics because they are a little bit more relevant than probably the Pasco statistics because Pasco plays into to affect Zephyrhills, Hudson, and New Port Richey which are a lot slower.
Anyhow, let me just go over this: Most everything looks pretty similar to what it did last month, as you can see right here the active inventory jumped up a little bit by about 29 homes. You have the inventory right here: pending sales jumped up quite a bit from about 3370 to 3566 so that is a pretty good jump. It definitely shows you the marketing is going really well. You have down here under sold, the sold homes in April as you can see jumped up about 100 homes as well. So again things are going really good.
Overall, I think home buyers don’t think the market is as good as it is and I think a lot of home sellers actually think the market is deader than it is, so I would just keep in mind where we are in the market. The inventory is low. You can see right here the inventory has gone down. It was down and in three months. It jumped up to 8 in January, 5-1/2 months went down a little bit in February to 4.87 months. In March it was 3.92 months and in April 3.66 months. Of course keep in mind a stable market is about 6 months of inventory or it is not really a buyer or seller’s market so it definitely is a buyer’s market especially if you are under 200 or 250. But let me just point out one thing that is a little bit not too surprising because I have been talking about it since October of last year but it might surprise a lot of people. If you look right here under the actives and look at what the short sales are doing.
Let’s just take in January. They were 10% of the market and now they are 9% of the market. You are not seeing a huge difference on homes that are pending in January they were 46% of the market. In April, they were 36% of the market. Here is a thing that might surprise a lot of you and I’ve been saying since October this is what was going to happen with what is going on with the Relief Act not getting passed. In January, the amount of short sales that were closed were 12%. In April, just 4 months later it has dropped literally in half down to 6%. You can see what the bank owned did. The bank owned was 23% in January, fluctuated a little bit and now they are about 23% so they pretty much stayed the same. As you can see traditional sales have gone from 64% of all the closings to 71% but it is the short sales that are staggering.
What is going on is a lot of banks are just not telling people they can do short sales and people are going through the whole process and waiting 2, 3, 4, and 6 months and then they are just denying the short sale all in all or they are just being so absurd about what they want it is just not working out. So just keep that in mind if you are doing a short sale you really need to hire someone who knows what the heck they are doing. This is not one of those things you just want to assume every realtor is the same or you can literally pay tens of thousands of dollars more for that mistake.
April 2014 Statistics for Buyers
If you are buying a home, just understand there is a good possibility the bank may reject and have your real estate agent ask a lot of questions:
- Who are the banks?
- How many banks are there?
- How cooperative is the seller?
- Have they gotten their package ready or have they even gotten a short sale package?
There are a lot of things you need to ask up front or your agent should be asking. Again, I know a lot of buyers like to think all real estate agents are the same but believe me it is like anything, they are not.
So we go over to individual statistics over here and as you can see when we are in the $100,000 to $200,000 range you can see how low the inventory is. It is 2.83 months there is very low inventory so if you are looking under $200,000 and you see a home you like, you need to write an offer and a good offer and assuming it is a good valued home, and of course if it is overpriced you are not going to want to make an offer on any house so that answers that question.
As far as homes from $200,000 to $300,000 a little over 4 months of inventory; that is still very low based off of this price range. Keep in mind the 6 months of a stable market is based off an average-priced home which in the Tampa area is around $180,000 so a $200,000 to $300,000 home those are above average and they have a very low inventory level. The same thing with $300,000 to $500,000 and the same thing with over $500,000; I mean you can’t look at this and say okay well the homes $385,000 in the inventory level is 5.71 months. If a home is at that value it is almost twice the market value of an average home but still the inventory level is less. So just keep that in mind when you are a buyer.
April’s Statistics for Sellers
When you are a seller again, you just have to get everything done. Buyers right now in today’s market are very, very fickle. They are just not wanting to go in and some of them just don’t have the money to go in and start putting a bunch of money into a home in interior and exterior paint, redoing kitchen cabinets or countertops, redoing floors, redoing fixtures. You really need to spend a little money up front and get this done. I would personally hire an interior decorator to make sure all the colors flow and match well.
April 2014 Conclusion
So that is really where we are in the market. If anybody has any questions please don’t hesitate to give me a call. You can email me on this information right here. Here are some more of my websites. It’s not really coming through that good but you can always go on my home buyer website and do a webinar and go to tbbuyerwebinar.com. If you are looking at selling a home you can go to the free seller webinar. They are done twice per week at tbsellerwebinar.com. TB stands for Tampa Bay.
Alright have a great day. Thank you. If you have any questions let me know. Please like my webpage if you go on there and have a great day. Thank you.